PITTSBURGH, March 14, 2024 /PRNewswire/ -- Kennametal
Inc. (NYSE: KMT) announced today that Sanjay Chowbey, currently Vice President,
Kennametal Inc. and President, Metal Cutting Segment, will succeed
Christopher Rossi as President &
CEO. Rossi has decided to retire from the company after nearly
seven years as CEO, effective May 31,
2024. Chowbey was unanimously appointed by the Board of
Directors as Rossi's successor, effective June 1, 2024.
"On behalf of the entire Board, I want to thank Chris for his
many contributions to Kennametal and congratulate Sanjay on his
well-deserved appointment as CEO," said William M. Lambert, Chairman of the Board.
"Chris is leaving the company better than he found it, having
successfully executed the company's Simplification/Modernization
strategy, which improved the efficiency and customer service level
of its factories while enabling the manufacturing of new product
innovations. In addition, Chris led the company through the
challenges of COVID-19, drove a significant and lasting cultural
transformation and improved the underlying performance of the
business."
Rossi will continue to serve on the company's Board of Directors
until his retirement, at which time Chowbey will join the Board.
Rossi and Chowbey will work together to ensure a seamless
transition.
"Over the last seven years, we have made good progress in
streamlining our organization, improving operations and sales
effectiveness, enabling higher value-add product innovations and
establishing our growth strategy," said Rossi. "While difficult to
say goodbye to this great company and our employees around the
world, it is the right time for me personally to make this
transition, especially knowing that I leave Kennametal under the
very capable leadership of my planned successor Sanjay."
Lambert added, "The Board has been appropriately focused on
succession, so we know that Sanjay is well-prepared for this role
and to advance our growth trajectory over the next few years. He is
a proven business leader and change agent, who I am confident will
help us continue to execute on a transformational strategy to
deliver above market growth and margin expansion."
Chowbey joined Kennametal in 2021 as President of the Metal
Cutting segment. Under his leadership the business has grown its
customer base, consistently delivered sales growth, expanded its
operating margins, launched more than 20 new products and improved
employee engagement.
"I am honored and excited to serve as the next CEO of
Kennametal," said Chowbey. "We have a proud 86-year legacy of
helping customers make products that touch everyday life and enable
people to drive, fly, power and build. We have extraordinary
employees who are focused on serving stakeholders around the world
and working to do things better than we did the day before. I look
forward to accelerating our transformational journey to create
shareholder value through growth, margin expansion and a balanced
capital allocation strategy."
The Company has launched a search for Chowbey's Metal Cutting
successor, considering both internal and external candidates.
Chowbey will also continue in his current role during this
transition period until he officially steps into the CEO role.
About Chowbey
Sanjay Chowbey joined Kennametal
in 2021 as Vice President of Kennametal Inc. and President of the
Company's Metal Cutting segment.
Chowbey has global responsibility for the Metal Cutting segment.
In this role he is accountable for all aspects of the business,
including advancing the strategy, driving operational excellence
and delivering profitable growth for the segment.
He has more than 20 years of experience at various industrial
companies, including Flowserve Corporation, Danaher and Arvin
Meritor Inc. Chowbey brings deep global and cross-functional
perspective having held various President and General Manager
roles, with responsibility for strategy, operations, sales,
marketing and finance. In his most recent role before Kennametal,
he was President of the $1.2 billion
Services & Solutions business at Flowserve.
Chowbey earned his MBA from the Kellogg School of Management at
Northwestern University, Master of
Science degree in mechanical engineering from Tennessee Tech
University and Bachelor of Science degree in mechanical engineering
from B.I.T. in Sindri, India.
About Kennametal
With over 80 years as an
industrial technology leader, Kennametal Inc. delivers
productivity to customers through materials science, tooling and
wear-resistant solutions. Customers across
aerospace and defense, earthworks, energy,
general engineering and transportation turn
to Kennametal to help them manufacture with precision and
efficiency. Every day approximately 8,700 employees are helping
customers in nearly 100 countries stay competitive. Kennametal
generated $2.1 billion in revenues in
fiscal 2023. Learn more at www.kennametal.com. Follow
@Kennametal: Instagram, Facebook, LinkedIn and YouTube.
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SOURCE Kennametal Inc.